The second-hand clothing market records a medium CAGR of 14.8%

Newark, Dale, September 26, 2022 (GLOBE NEWSWIRE) – Global second hand clothes market It is expected to grow from 71,225.6 USD Minnesota In 2022 to 282,748.6 USD Minnesota By the end of 2032, with overall used clothing sales accelerating at a compound annual growth rate of more than 14.8% Throughout the forecast period (2022-2032).

Increasing popularity of second hand clothes due to its easy availability and low cost, changing lifestyles and fashion tastes, rapid penetration of online shopping platforms offering wide range of second hand clothes are some of the major factors driving the demand in the global market.

The fashion industry has changed dramatically since the beginning of the globalization movement. Changes in lifestyle due to industrialization, urbanization, economic growth and market globalization have intensified over the decade, and have had a significant impact on the standard of living of individuals, particularly in emerging nations and in rapid social and economic transformation.

As living conditions improved and access to services increased, global competition led to the introduction of a variety of new product innovations, such as recycling and selling discarded clothing.

E-commerce has changed the entire shopping experience, as more and more consumers around the world prefer to buy things, choose services, and get goods online. Home delivery, subscription models, and other features are fueling this transformation.

Product reviews and other e-commerce features help merchants research their audience’s behaviors, likes, dislikes, and trends in order to develop products and services that match requirements and convert them into potential buyers. Hence, online distribution has fueled the growth of the second-hand market.

Request a sample report for comprehensive insights @ https://www.futuremarketinsights.com/reports/sample/rep-gb-11161

Changing consumer behavior, which is replacing fast fashion purchases with resale, is one of the primary factors emerging as a major factor driving the demand for used clothing. Consumers are turning to thrift to reduce harmful production as a result of increased awareness about ethics and sustainability.

Main takeaway from second hand clothing market study

  • By product type, the dresses and blouses segment is expected to grow at a compound annual growth rate of 11.4% during the forecast period.
  • By sales channel, the online retailer segment is expected to grow in 22.1% compound annual growth rate Between 2022 and 2032.
  • In terms of the target population, the female segment is expected to receive a large share of about 46.4% in the used clothing market.
  • The Indian used clothing market is likely to expand at a CAGR of 17.9% during the evaluation period.
  • The United States owns a share of about 86.3% The second-hand clothing market in North America is expected to grow at a compound annual growth rate of 21.2% over the next ten years.
  • The demand for second garments in Australia is expected to rise at 12.5% ​​compound annual growth rate during the forecast period.

For any queries related to the report, ask an @analyst https://www.futuremarketinsights.com/ask-question/rep-gb-11161

second hand The major players in the apparel market are formulating strategies and focusing on expanding their business by introducing new brands and expanding their inventory portfolio. They also focus on an eco-friendly way of doing business by offering eco-friendly second hand Clothing. ” Says an FMI analyst.

Who’s the winner?

The major players present in the used clothing market are Thredup Inc. RealReal, Poshmark, Vinted, Micolet, Percentil.ma, Thrift+, Chikatex, HunTex Recycling Kft, eBay Inc. and British Used Clothing Company. and A&E Used Clothing Wholesale, Mobacotex, Tradesy, and StockX among others.

Leading used clothing manufacturers focus on promotional strategies, advertisements and new product launches which have led to the growth of used clothing market sales globally.

Get more valuable insights

Future Market Insights, in its new offering, provides an unbiased analysis of the global used clothing market, presenting historical demand data (2017-2021) and forecast statistics for the period 2022-2032. The study reveals compelling insights into the used clothing market based on product type (Dresses, T-shirts, T-shirts, sweaters, jackets, coats, jackets, jeans, pants, etc.), sector (resale, traditional thrift stores, donations), target population (men, women and children), and sales channel (wholesalers/distributors). supermarkets/supermarkets, multi-brand stores, independent convenience stores, department stores, online retailers, and other sales channels) across seven major regions.

About the Consumer Products Division of Future Market Insights

The Consumer Products team at Future Market Insights provides all the insights and advisory analysis needed to meet the unique business intelligence needs of clients around the world. With a catalog of over 500 reports relating to the latest statistics and analysis from the consumer products industry, the team is happy to assist with every business intelligence research and consulting requirement.

Browse the full report @ https://www.futuremarketinsights.com / reports / used clothing market

content list

1. Executive Summary

1.1 Global Market Outlook

1.2 SUMMARY OF KEY RESULTS

1.3 Summary of key stats

1.4 FMI analysis and recommendations

2. Market Overview

2.1. Market classification

2.2. Market definition

3. Main market trends

3.1. The main trends affecting the market

3.1.1. Looking good is now becoming self-respect among customers

3.1.2. Millennials are the driving force

3.1.3. The growing trend of personal grooming among men

3.1.4. The rapid emergence of startups in the used clothing market

3.1.5. Wealthy working population

3.1.6. Changing the retail landscape

3.1.7. Increase consumer awareness of online resale platform

3.1.8. Globalization affects lifestyles

3.1.9. Consumers’ choice of home services using e-commerce

3.1.10. Aharon

Read more table of contents ...

Take a look at research reports related to consumer product insights

Sportswear market size: Sportswear Market by Product Type, Material Type, and Region – Forecast 2022 – 2032

Garment re-trading market share: Garment Re-Merchandising Market: Global Industry Analysis 2013-2017 and Opportunity Assessment; 2018 – 2028

sequins clothing market trendSequin Apparel Market: Global Industry Analysis 2016-2020 and Opportunity Assessment 2021-2031

Demand for used bags market: Used Bags Market by Raw Material, Sales Channel, End User, and Region – Forecast 2022 – 2032

Second hand designer shoes market: Second Hand Designer Shoes Market by Channel, End Use, and Region – Forecast 2022 – 2032

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR certified business and market research consulting firm, a member of the Greater New York Chamber of Commerce and headquartered in Delaware, USA. Recipient of the Clutch Leaders Award 2022 based on high client scores (4.9/5), we collaborate with global organizations on their business transformation journey and help them achieve their business ambitions. 80% of the largest Forbes 1000 companies are our customers. We serve global clients in all leading market segments and specialize in all major industries.

Contact we:

Future Market Insights Inc
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
Tel: +1-845-579-5705
For sales inquiries: sales@futuremarketinsights.com  

Leave a Comment